VOL. XXXIX
No. 40
1-July-1996
BAHRAIN
ABC Votes Not To Pay Dividend Despite Profits Increase Of 10.5%
Following its general meeting held on 23 June in Manama the members of Bahrain-based Arab Banking Corporation (ABC) have announced that the bank will retain all its earnings from 1995 and will not pay a dividend. In 1994 and 1993, ABC paid a dividend of $60mn and in 1992 $50mn. In a statement, the bank said that ABC's board of directors perceived the need to strengthen the group's...
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